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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Rick Bullotta who wrote (20706)7/16/1998 10:14:00 AM
From: Alastair McIntosh  Read Replies (2) of 31646
 
Rick, thank you for your response. I read and consider your posts carefully as you appear to be this boards most knowledgeable and reasoned poster for the long side.

You are saying that if TAVA executes perfectly they should be able to sustain a share price in the high single digits.

I believe that their billings will drop substantially. It appears that they are currently billing out relatively low skilled technicians as engineers at inflated rates. (Not a good way to build long term relationships) Supply and demand in their core business will not permit this to continue. As Y2K work slows they will be left with a large number of bodies that they will have to either get rid of or bill out at very competitive rates.

Shrinking revenues and margins at 1/2 those of Y2K work combined with current cash flow problems and share dilution does not bode well for the future.

The only reason to buy TAVA now is the hope that the "heat of the Y2K frenzy" runs the price to the high teens.

Al

P.S. In Canada the professional associations are very protective of the use of the term "engineer". They prosecute those that use the term without professional registration. Is it the situation the same in the USA?
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